Former Vice President Atiku Abubakar has alleged that President Bola Tinubu’s request for external loans totaling $20.52 billion and €1.045 billion is a scheme to fund political campaigns rather than genuine infrastructure development.
Reacting through a statement issued by Phrank Shaibu, Director of Strategic Communication for the ADC Presidential Campaign Council, Atiku maintained that the request vindicates his previous warnings about a hidden multi-billion-dollar loan plan linked to the Lagos-Calabar Coastal Highway.
He expressed concern over the administration’s failure to provide detailed, project-by-project breakdowns, specific costs, locations, and contractors for public scrutiny, especially coming just months before an election.
Calling on the National Assembly to refuse a blank check, Atiku demanded absolute transparency and accountability, insisting that lawmakers must withhold approval until every project and loan term is fully disclosed.
He also warned local and international lenders that any debt incurred without proper due process during the twilight of the administration would face rigorous investigation and potential challenge by a future government, emphasizing that struggling citizens should not be burdened with opaque debts that mortgage Nigeria’s future.
